Matthews International Capital Management LLC Takes $3.63 Million Position in Intercorp Financial Services Inc. $IFS

Key Points

• Matthews International Capital Management LLC initiated a new position in Intercorp Financial Services, buying 72,384 shares worth about $3.63 million. The stake represents roughly 1.5% of the fund’s portfolio and 0.07% of the company’s shares.
• Other institutional investors also increased exposure, including Goldman Sachs, Qube Research & Technologies, and Sei Investments, while Jane Street opened a new position. This points to notable institutional interest in the stock.
• Analyst sentiment is mixed but still constructive: JPMorgan lowered its rating to neutral, while Zacks and Wall Street Zen upgraded the stock, leaving the consensus rating at Buy with a $56 average target price.

Matthews International Capital Management LLC bought a new position in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 72,384 shares of the company's stock, valued at approximately $3,634,000. Intercorp Financial Services comprises approximately 1.5% of Matthews International Capital Management LLC's portfolio, making the stock its 23rd biggest holding. Matthews International Capital Management LLC owned 0.07% of Intercorp Financial Services as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. Goldman Sachs Group Inc. boosted its holdings in Intercorp Financial Services by 332.5% in the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company's stock valued at $2,119,000 after purchasing an additional 49,173 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Intercorp Financial Services in the 1st quarter valued at approximately $287,000. Geode Capital Management LLC boosted its stake in shares of Intercorp Financial Services by 9.7% during the 2nd quarter. Geode Capital Management LLC now owns 20,649 shares of the company's stock valued at $787,000 after buying an additional 1,824 shares during the last quarter. Qube Research & Technologies Ltd grew its position in shares of Intercorp Financial Services by 192.6% during the second quarter. Qube Research & Technologies Ltd now owns 143,345 shares of the company's stock worth $5,466,000 after buying an additional 94,360 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Intercorp Financial Services by 381.7% during the second quarter. Sei Investments Co. now owns 34,866 shares of the company's stock worth $1,329,000 after buying an additional 27,628 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Intercorp Financial Services from an "overweight" rating to a "neutral" rating and set a $56.00 price target on the stock. in a report on Monday, June 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Intercorp Financial Services in a research report on Friday, May 22nd. Zacks Research upgraded shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Wall Street Zen raised shares of Intercorp Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $56.00.

Intercorp Financial Services Trading Up 0.4%

NYSE:IFS opened at $60.91 on Monday. The firm has a market capitalization of $6.77 billion, a P/E ratio of 11.39, a P/E/G ratio of 0.84 and a beta of 0.78. The business has a 50 day simple moving average of $51.78 and a 200 day simple moving average of $48.87. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.08 and a quick ratio of 1.08. Intercorp Financial Services Inc. has a 12-month low of $35.45 and a 12-month high of $61.25.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share for the quarter. The firm had revenue of $508.76 million for the quarter. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%. Equities research analysts predict that Intercorp Financial Services Inc. will post 5.97 EPS for the current year.

About Intercorp Financial Services

Intercorp Financial Services NYSE: IFS is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company's core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.

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